Posted on 02/23/2015 7:13:49 PM PST by Theoria
U.S. Justice Department investigates price-setting process for gold, silver, platinum and palladium
U.S. officials are investigating at least 10 major banks for possible rigging of precious-metals markets, even though European regulators dropped a similar probe after finding no evidence of wrongdoing, according to people close to the inquiries.
Prosecutors in the Justice Department’s antitrust division are scrutinizing the price-setting process for gold, silver, platinum and palladium in London, while the Commodity Futures Trading Commission has opened a civil investigation, these people said. The agencies have made initial requests for information, including a subpoena from the CFTC to HSBC Holdings PLC related to precious-metals trading, the bank said in its annual report Monday.
HSBC also said the Justice Department sought documents related to the antitrust investigation in November. The two probes “are at an early stage,” the bank added, saying it is cooperating with U.S. regulators.
Also under scrutiny are Bank of Nova Scotia , Barclays PLC, Credit Suisse Group AG , Deutsche Bank AG , Goldman Sachs Group Inc., J.P. Morgan Chase & Co., Société Générale SA, Standard Bank Group Ltd. and UBS AG , according to one of the people close to the investigation.
(Excerpt) Read more at wsj.com ...
Oh My ,it’s time to shake some money out of the Big Banks AGAIN
Way to go DOJ — nothing there but we gotta waste US taxpayer money and do it again. CUT THE PURSE STRINGS.
As if any action the current administration takes is anything other than corrupt.
Ah, yes, I see:
Buying metals under a PRIVATE system is UNFAIR. Oh, but lo and behold, the US GUMMINT is here to make it all OKAAAAY..!
Same with 401k’s, soon —Uncle Sugar is going to cruise in and improve things immensely, just as he ALWAYS does, by seizing 401k’s.
That is, right after Obama collapses the US dollar, right?
Gold & silver - Seized by da gummint
401k’s - seized by da gummint
All rifle ammo - owned & controlled by da gummint
By "metals", do you mean the fraudulent system by which paper and digital entries are traded with no connection to actual metals.
> >> “Oh My ,it’s time to shake some money out of the Big Banks AGAIN” <<
.
Again? - When have the banks been anything but beneficiaries of US policy?
Stimulus after stimulus has pumped trillions into the big banks.
.
These guys did it right and took delivery: http://www.zerohedge.com/article/golden-tipping-point-university-texas-takes-delivery-1-billion-physical-gold
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